In the article About the history of the Binance crypto exchange Vladimir Okhotnikov, an expert in the field of finance and blockchain technologies and the head of Okhotnikov’s company, draws a number of historical analogies that link together such different events as the arrest of the Knights Templar, the nationalization of the East India Company by Britain and the trial of Binance. The reasons for the persecution by the American state of Changpeng Zhao, CEO of the largest crypto exchange, are considered. The prospects for further interaction between the American regulator and the cryptocurrency industry are touched upon.
Vladimir Okhotnikov is the author of a wide range of articles devoted to decentralized finance, the activities of the SEC, the latest blockchain technologies and many other interesting issues. In this publication, he identifies common points inherent in three different events of the 14th, 19th and 21st centuries.
The first loud historical fact that Vladimir reflects on is the defeat of the Templar Order, carried out in 1307 by King Philip IV the Fair of France. The expert believes that the reason for this was the political ambitions of the knights and the wealth they accumulated. Do not forget that it was the Templars who invented bearer bills and laid the foundations of the modern banking system.
“Of course, the “regulator” in the person of the king did not want to tolerate such a powerful organization within France, independent of the central government. For the Templars, everything ended badly: the last master of the order, Jacques de Molay, was burned alive on March 18, 1314, all the knights on French territory were arrested and tortured, and the property of the order went to the royal treasury,” the researcher concludes.
The second significant event considered by Mr. Okhotnikov in a single context is the proclamation of The Indian Act by the English Parliament, which occurred on August 2, 1858. This law put an end to the many years of existence of the huge East India Company, which had everything at its disposal, including a private army. The expert sees here an obvious similarity with the history of the ill-fated Order of the Templars.
The third historical fact that closes the above chain of historical analogies is a deal concluded in February 2024 in Seattle between American justice and Changpeng Zhao (CZ), the CEO of Binance, the largest crypto exchange.
According to Vladimir, the three listed events have the same background.
“Total centralization is always evil. The fact is that it inevitably leads to the creation of monopolies. A vicious system arises where only a narrow category of people enjoys privileges,” concludes Mr. Okhotnikov.
The rapid growth of Binance’s capitalization has become the main reason for the problems that plague the exchange today. US political elites do not need huge, uncontrollable volumes of liquidity that could call into question the stability of the dollar.
The resignation of CZ and the active intervention of the regulator in the activities of the crypto exchange is inevitable evidence of the state’s attack on the DeFi sphere.
Read about the consequences of this conflict, scenarios for further events and much more in the original article.
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